I feel like we’ve been spoilt for big winners this past month. After KRTX I didn’t expect anymore bangers. Especially as we head towards the end of the year and market participants start drifting away and volume drops off. Clearly the holidays haven’t quite started yet, because Wednesday gave us this lovely short on AYX:
That drop from the open was fairly epic (can something be fairly epic, or is that an oxymoron?). Anyway, it was a big old drop, so when volume built and it went for it again, it was well worth taking a shot.
That shot worked out pretty well. This was a long trade for me (in terms of time, not direction obviously), lasting more than half an hour.
The exit was well signaled with a bounce and a push up in volume showing a change of momentum. The single cent slippage messed up my nice round number exit, but with $4,120 profit in the pot I’m not going to complain too much. Sure, it wasn’t quite the lofty heights of KRTX, but it was an unexpectedly sizable winner nonetheless.